ANZ Bank senior currency strategist Tony Morriss suggests with uncertainty impacting on risk appetite in global markets it will be technicals rather than fundamentals that offer guidance.
The Dow fell 280 points last night as more poor housing data were released, consumer confidence fell, Merrill Lynch downgraded financial stocks and, bizarrely, the FOMC minutes from August 7 were poorly received.
This week’s spot price indicators for U3O8 have been set at US$95 and US$90/lb respectively.
The sub-prime crisis may not be over but Commonwealth Bank expects strength in the Australian and global economies will continue.
Mitchell Communications reported a profit that blew away analyst forecasts.
Morgan Stanley believes the upcoming index reshuffle may see Abacus Property, Charter Hall and Silex be included in the S&P/ASX200 index.
Industry consultant TradeTech has kept its weekly spot price indicator US$5 above last week’s shock release by peer Ux Consulting.
On Friday new home sales spurred Wall Street. Last night existing home sales achieved the opposite.
A Zinifex management presentation to investors has reignited market speculation a tie-up with Oxiana Resources may be on the cards.
The ACCC has instigated proceedings against Australia’s auto stevedoring industry but any impact on Asciano is unlikely to be significant.
